Riyad Bank
 | |
| Company type | Public (Tadawul: 1010) |
|---|---|
| ISIN | SA0007879048  |
| Industry | Finance |
| Founded | 1957 |
| Headquarters | Riyadh, Saudi Arabia[1] |
Key people | Abdullah Mohammed Al-Issa Chairman[2] Tareq Al Sadhan CEO[3] |
| Products | Financial services |
| Total assets | 265,788,878,000 Saudi riyal (2019) |
Number of employees | 5,973 [4] |
| Website | www.riyadbank.com |
Riyad Bank is one of the largest financial institutions in Saudi Arabia, ranked fourth in assets[5][6] It was established in 1957.[7] The Saudi government owns 51% of the shares of the firm.[7]
As other Saudi commercial banks, Riyad Bank is supervised by the Saudi Central Bank.
In March 2018, Riyad Bank launched contactless payment wristbands, using the Gemalto digital security solution.[8][9]
In December 2018, Riyad bank went into preliminary discussions with National Commercial Bank (NCB), the country's biggest lender by assets, to study a merger plan. After three weeks Riyad Bank hired Goldman Sachs to advise on the merger that would create the largest bank in the kingdom with $182 billion in combined assets.[5][10]
See also
References
- ^ "Riyad Bank Saudi Arabia". Commercial Banks of the World. BanksDaily. Retrieved 25 November 2013.
- ^ "Board of Directors".
- ^ Tareq A. Al-Sadhan is the new CEO of Riyad Bank
- ^ Riyad Bank on Forbes Global 2000 list
- ^ a b Four Charts That Show the Impact of Saudi Arabia's New Mega Bank Bloomberg
- ^ ArgaamPlus. "QNB, NCB top list of biggest GCC banks". ArgaamPlus. Retrieved 2017-04-05.
- ^ a b Oxford Business Group (2008). The Report: Saudi Arabia 2008. Oxford Business Group. p. 72. ISBN 978-1-902339-00-9. Retrieved 18 September 2013.
{{cite book}}:|author=has generic name (help) - ^ Financial.net, CPI. "Contactless payment bracelets launched in Saudi Arabia". CPI Financial. Retrieved 2018-03-13.
- ^ "Riyad Bank launches Saudi Arabia's first contactless payment bracelets". LeapRate. 2018-03-12. Retrieved 2018-03-13.
- ^ Saudi’s Riyad Bank selects Goldman to advise on merger talks with NCB Gulf Business
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